Member Info for PAD004

(now typing away at the pc rather than phone to remedy typos.....)
Yes....but...

My understanding is Amigo will need to write to everyone with an Amigo loan (could also include people with loans repaid). They need approval from them. The concession is in effect a rebate to gain buy in which is open to all for a 6 month period from a predetermined date.

A novel way to wipe the slate clean and start over.

Those with loans will be able to apply for the concession up to 6 months from pre determined time. Therefore, this is open to all Amigo's with loans. Inevitably a lot will say no to the agreement which is why by including everyone for a Freeby it could well work.

Amigo need agreement from those with loans before applying to the court. Best way to do this is to offer everyone a concession which is part of the pot of money. As I say, this is quite a good way forward.....

My take on this is Amigo needs to gain approval from those with loans and the way to do this is to offer everyone a concession. In which case this is quite clever.

That's how I usually think of creditors although the RNS starts....

It is anticipated that the Scheme will commence as soon as practical in 2021 and is subject to the approval of the requisite majority of Scheme creditors (i.e. those with Redress Claims)

SoA
Amigo need approval via the creditors. Am I reading the below correctly? That is, anyone with an Amigo loan can apply for the reduction and is this part of the way of getting creditors to agree?
Under the Scheme there would be an automatic right of set-off for the redress due to claimants against their current outstanding loan balance ("Balance Adjustment").

It's easy to become twitchy when the share drops like this. It raises concerns for me too which is probably why I am posting more than normal. That said, I invested on the basis of the new management team, the brand value/name and the economic conditions for lending. None of this has changed. Neither has the complaints situation although today shows progress on this front. Plenty more newsflow to come. Hopefully positive at that but we will see. Nothing has materially changed for me to change my position or reduce my risk level. GLA

A sea of green and only one troll filtered.

The US stimulus package is about to happen. The markets will be okay and on the rise soon after.

I should have added that I like the ethical approach to lending which also makes good business sense. A gem of a company imo.

Welcome NE14. Exciting times ahead with near perfect economic conditions on the horizon.

I tried marmite and did not like it but like Amigo under the new management team. Each to their own and we all take our positions, buy in or not, and take our chances. The odds look better to be for reasons stated many times on this board. Odds on this will beat 10p again at some point for example. GLA.

Looks like MM manipulation. Still, I managed to top up today. I did not expect this to be around the 9p mark again so soon. Onwards and upwards on Monday (hopefully, but who knows!).

This is defamatory to the average workingman club I suspect!!!!!

DJ-Risk level does not change by the value invested.

I thought I was on the Armadale capital board for a moment. Another graphite prospect. It would be good to keep on topic though

"Go the extra Mile" as the headline with negotiations to continue. Positive news for the markets!!!!!

It's a divisive topic and that's for sure Monday 8a will be interesting either way. Surprised by the volume buying in today. Perhaps this bodes well? Too tight to call.....

I should also say Cameron takes most of the blame for gambling on a referendum in the first place

I know. It's all pretty grim and I blame the labour party for not supporting the soft Brexit under T May. They will come to an agreement and it's theatrics atm. Probably not the deal we wanted though and let's see how Boris sells this to the public.

Still-a chunky 1.186m after close buy helps...see investing.com